Eurozone Private Sector Expands at Modest Pace

The Eurozone's private sector economy expanded more than expected in July, as the HCOB Composite Purchasing Managers' Index (PMI) rose to 51.9, surpassing the flash estimate of 52.0 and well above the 50.0 threshold that separates growth from contraction.

The composite PMI aggregates activity across both manufacturing and services, indicating a modest but broad-based uptick in business activity across the currency bloc.

The data suggests that the Eurozone economy continues to grow, albeit at a moderate pace, with the services sector remaining the primary engine of expansion.